Latest AIG Headlines
All the headlines from our AIG Topic Page, ordered by recency.
AIG Shares Plummet as Investors Await Rescue Plan
Sep 15 2008 // Shares of American International Group Inc. plunged 53 percent Monday as investors grew increasingly nervous after the insurer, once the world’s most valuable insurer by market value, failed to deliver a rescue...
AIG Employees on Edge as Once-Safe Company in Turmoil
Sep 15 2008 // Disbelief and anxiety were written on the faces of staff at American International Group Inc. as they grappled with the idea that their company, which was once the largest insurer in the world and one of the safest places...
AIG Gets New York Governor’s Help in Accessing $20 Billion
Sep 15 2008 // Embattled insurer American International Group Inc. received New York state approval to post $20 billion of policyholders’ assets as collateral as it seeks to stave off a liquidity crisis and works with banks to fix...
New York Federal Reserve Hosting Meetings on AIG, Says Official
Sep 15 2008 // The New York Federal Reserve was hosting meetings Monday on the situation of embattled insurer American International Group Inc. with representatives of the Treasury Department, financial services firms and state...
AIG Facing Liquidity Crisis, Seeks $40 Billion Loan from Federal Reserve
Sep 14 2008 // Insurer American International Group Inc., working to stave off rating downgrades [See related article] and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40...
Four Former AIG Execs Including Greenberg Settle Shareholder Suit
Sep 12 2008 // Four former executives of American International Group Inc., including ex-CEO Maurice “Hank” Greenberg, agreed on Thursday to settle a long-standing shareholder lawsuit for $115 million. The insurer will...
AIG Loses Its Position as Industry Leader by Market Value
Sep 11 2008 // Fears that American International Group Inc.’s large mortgage exposure could trigger another round of losses has rankled investors so much that the insurer has lost its iron grip as the world’s industry leader...
AIG Cos. Introduces Global Supply Chain Distruption Coverage
Sep 9 2008 // The AIG Companies introduced Global Supply Secure, insurance that helps mitigate the financial impact of supply chain disruptions. Jointly developed with Marsh, Global Supply Secure will be underwritten domestically by...
Prosecutors Allege AIG Scheme Cost Investors $1 Billion
Sep 8 2008 // U.S. prosecutors said a scheme to manipulate the financial statements of the world’s largest insurance company, American International Group Inc., resulted in a loss of more than $1 billion to investors. Four former...
AIG CEO Says He Will ‘Take a Scalpel’ to Reshape Giant Insurer
Sep 1 2008 // American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led to...
AIG Buys 18% Stake in China’s MicroCred Nanchong
Aug 28 2008 // American International Group has acquired 18 percent of MicroCred Nanchong, China (MNC). The deal also gives AIG the exclusive right to sell micro insurance to MNC clients for two years. “MNC is the first wholly...
AIG’s Troubles = Industry Troubles?
Aug 21 2008 // Willumstad is the wrong person for the job and would be even if these were good times. The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on...
AIG’s Troubles = Industry Troubles?
Aug 21 2008 // Willumstad is the wrong person for the job and would be even if these were good times. The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on...
People
Aug 21 2008 // W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley...
Business Moves
Aug 21 2008 // Sloan Mason Sloan Mason Insurance Services, a San Diego-based managing general agent and wholesale insurance broker, opened an office in Sacramento, Calif., to introduce specialty programs and coverages for underground...
AIG’s Troubles = Industry Troubles?
Aug 21 2008 // Willumstad is the wrong person for the job and would be even if these were good times. The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on...
AIG Introduces Basic Health Benefits for Private Staff
Aug 12 2008 // AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group Inc. (AIG), introduced Basic Health Benefits for Private Staff. Available to full-time...
S&P Sees No Affect on AIG’s Ratings from Q2 Loss
Aug 8 2008 // Standard & Poor’s Ratings Services indicated that its ratings on American International Group Inc. – currently ‘AA-‘ with a negative outlook/Debt ‘A-1+’ – and AIG’s...
AIG CEO Ready to ‘Take a Scalpel’ to Reshape Insurer
Aug 8 2008 // American International Group’s Chief Executive Robert Willumstad will soon take the scalpel to the world’s largest insurer — and not a minute too soon for investors blindsided by mortgage losses that led...
AIG’s Net Loss for Q2: $5.36 Billion; Conference Call Today, Details
Aug 7 2008 // American International Group confirmed analysts’ worst forecasts, as it posted a net loss for the second quarter of 2008 of $5.36 billion or $2.06 per diluted share compared to net income of $4.28 billion or $1.64...
